Tonight’s Highlights | U.S. Stock Index Futures Nearly Flat, Nvidia Hits New Pre-Market High
On Thursday, the U.S. stock market remained calm, with the three major index futures close to flat. European major indices showed mixed performance.
The previous trading day saw the S&P 500 and Nasdaq close at record highs, with the S&P 500 rising in eight of the past nine trading days and the Nasdaq gaining over 1%, closing above 23,000 points for the first time.
Wednesday’s market rally was driven by Nvidia CEO Jensen Huang, who said that as AI models evolve from answering simple questions to complex reasoning, demand for computing power has surged significantly.
“There’s still reason to remain optimistic, but I wouldn’t be surprised by increased market volatility,” said Kevin Mahn, investment director at Hennion & Walsh Asset Management. “When volatility hits, sidelined capital will re-enter the market.”
With the U.S. government still shut down, no major economic data is scheduled for release on Thursday.
Nvidia rose 2% pre-market, hitting another record high.
SoftBank’s stock surged over 11%, pushing Japan’s Nikkei 225 to a record closing high. SoftBank announced it reached an agreement to acquire ABB Ltd.’s robotics business for $5.375 billion, a move expected to significantly bolster its AI robotics operations.
PepsiCo and Delta Air Lines both rose pre-market after reporting quarterly results that exceeded expectations.
Company News
ChatGPT Head: Low-Cost Subscription Service ChatGPT Go Now Available in 18 Asian Countries
On October 9, OpenAI Vice President and ChatGPT Head Nick Turley announced the expansion of the low-cost subscription service ChatGPT Go to 16 additional Asian countries. India and Indonesia already had access, bringing the total to 18 Asian countries.
Novo Nordisk to Acquire Biopharma Firm Akero for $4.7 Billion
On October 9, Novo Nordisk announced a definitive agreement to acquire Akero Therapeutics, a company developing innovative therapies for severe metabolic diseases. Under the terms, Novo Nordisk will acquire all of Akero’s outstanding shares for $54 per share in cash, totaling $4.7 billion, upon deal completion.
U.S. Auto Safety Regulator Launches Probe into Tesla’s FSD, Involving Nearly 2.9 Million Vehicles
On October 9, the U.S. National Highway Traffic Safety Administration (NHTSA) disclosed that its Office of Defects Investigation (ODI) has launched a probe into Tesla’s Full Self-Driving (FSD) system, focusing on traffic safety violations in FSD mode, including running red lights and driving against traffic on public roads.
The investigation covers an estimated 2,882,566 vehicles equipped with the feature.
Ferrari Raises 2025 Outlook, Expects €9 Billion in Revenue by 2030
On October 9, Ferrari raised its 2025 guidance, expecting to meet its 2026 business plan profitability goals a year early. By 2030, total revenue is projected to remain at ~€9 billion, with EBITDA of at least €3.6 billion. Ferrari also announced a new €3.5 billion share buyback program to begin in 2026.
DoorDash Partners with Serve Robotics to Bring Delivery Robots to Its Platform
On October 9, DoorDash and Serve Robotics announced a multi-year strategic partnership to roll out autonomous robot delivery services across the U.S.